Harris and Harris was listed with Goldman Sachs as one of three investors in the subtext banner. It looks like they may be doing a road show ahead of an IPO. It's possible that they're doing another financing round, but I doubt it, since they don't need the money. Otherwise, why would they waste their ammo with a marquee interview without the underlying purpose of going public. This would be good publicity for TINY. In the meantime, the 4.3 MM share block is still being digested. Overhead resistance through the end of the month/3rd Q and year end tax loss selling pressure is keeping the share price down. Volume is ok today, but without a major institutional buyer, we may be stuck in the doldrums for awhile.
This stock is and has been a dog for a LONG time...and unhappily, I have been an investor for a LONG time....my main feeling is that management is at fault. I keep hoping this will start to move higher...but it is just a dog...and we keep paying these yahoos a crazy amount of money....all in all, I say SHAME on them for even paying themselves like they do...and yes, I know I can sell any time I want....I just HATE HATE HATE taking losses!!! ugh!
Look at the technicals vs. the fundamentals. Yes, management salaries and overhead are way too high for this type of business development company. Yes, the stock has not only underperformed the past two years; it's behaved as an absolute dog. Yes, there's been alot of tax loss selling and the stock has flatlines at the bottom for the past few months.
However, look at the bright side of life. They're getting a nice exit this year with XRadia with cash to cover their burn and a few new investments. Nanotech is getting recognition in the business sphere, even if it's ignored in the stock market. The stock is selling at a 25% discount to NAV while historically it has sold at a significant premium to NAV. Insider ownership is increasing. Their bio investments are improving. I expect Amgen to file for their Biovex NDA soon (considering failures from Glaxo and Vical) so TINY will get more milestones and royalties. There's an outside chance they'll be able to manage private stage investments for others which could bring in some cash flow. This is bascially a 2014 and beyond story. The more investors become disgruntled, the better the bargain.
I agree that they're working with a failed business model, but they have some really nice companies in their mix. Certainly, worth a trade for a January bounce.